Logo

HCI

HCI Group, Inc.

HCI

HCI Group, Inc. • NYSE
$177.75 ▲ 0.71% (+1.25)
Market Cap $2.30 B
52w High $210.50
52w Low $106.89
Dividend Yield 1.60%
P/E 11.27
Volume 186.83K
Outstanding Shares 12.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $216.401M ▼ $27.997M ▼ $65.507M ▼ 30.271% ▲ $5.05 ▼ $93.936M ▼
Q2-2025 $221.952M ▲ $32.552M ▲ $66.16M ▼ 29.808% ▼ $5.57 ▼ $102.677M ▼
Q1-2025 $217.059M ▲ $30.142M ▲ $69.684M ▲ 32.104% ▲ $6.47 ▲ $105.742M ▲
Q4-2024 $161.442M ▼ $17.118M ▼ $2.584M ▼ 1.601% ▼ $0.22 ▼ $11.339M ▼
Q3-2024 $175.238M $29.318M $5.682M 3.242% $0.54 $19.661M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.185B ▼ $2.347B ▼ $1.491B ▼ $821.776M ▲
Q2-2025 $1.305B ▲ $2.353B ▲ $1.566B ▼ $758.577M ▲
Q1-2025 $1.266B ▲ $2.307B ▲ $1.762B ▲ $522.683M ▲
Q4-2024 $1.054B ▲ $2.23B ▲ $1.761B ▲ $453.333M ▼
Q3-2024 $957.807M $1.987B $1.519B $455.344M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $67.888M ▲ $26.674M ▼ $2.801M ▼ $11.416M ▲ $40.776M ▼ $25.88M ▼
Q2-2025 $66.16M ▼ $144.999M ▼ $53.199M ▼ $-6.02M ▲ $192.693M ▼ $144.999M ▼
Q1-2025 $74.23M ▲ $162.006M ▲ $66.271M ▲ $-6.248M ▼ $222.018M ▲ $160.274M ▲
Q4-2024 $2.584M ▼ $74.687M ▼ $-55.048M ▼ $-5.473M ▲ $14.089M ▼ $73.626M ▼
Q3-2024 $9.392M $104.144M $-25.629M $-5.527M $72.964M $103.192M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Real Estate Operations
Real Estate Operations
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last five years, with a particularly strong step-up in the most recent period, suggesting successful expansion of the insurance book. Profitability dipped into losses a few years ago but has since rebounded, with recent years showing solid earnings. That said, profitability has been somewhat volatile, which is common in property and casualty insurance, especially with exposure to catastrophe-prone markets. Margins improved meaningfully after the loss year, but the latest year appears slightly less profitable than the prior one despite higher revenue, pointing to pressure from claims, reinsurance costs, or pricing. Overall, the income statement reflects a company that has moved from a difficult period into a more profitable phase, but with the underlying earnings profile still sensitive to insurance cycles and weather events.

Balance Sheet

Balance Sheet The balance sheet has grown, with total assets increasing significantly over the five-year period, which aligns with the expansion of the insurance operations. Cash levels are relatively strong and have generally improved versus earlier years, which offers a buffer against volatility in claims and markets. Debt exists but appears moderate compared with the size of the business, and equity has rebuilt from earlier lows, indicating that retained earnings and capital strength have improved after the loss period. The overall picture is of a company with a sturdier capital base than a few years ago, though still operating in a sector where capital can be tested quickly by large catastrophic events.

Cash Flow

Cash Flow Operating cash flow has been consistently positive in recent years and is trending upward, showing that the core insurance and related activities are generating real cash, not just accounting earnings. Free cash flow has closely tracked operating cash flow, as capital spending needs have been quite low, reflecting an asset-light, technology-enabled model rather than a capital-intensive one. The brief dip around the loss year appears to have been corrected, with cash generation now matching the improved earnings picture. This cash profile provides flexibility for absorbing shocks, investing in technology, and funding growth initiatives without heavy reliance on borrowing.

Competitive Edge

Competitive Edge HCI’s competitive position is built around a blend of insurance expertise and proprietary technology. Through its Exzeo platform and TypTap insurtech arm, the company uses data and algorithms to select and price risks more precisely, aiming to avoid the worst policies and improve underwriting results. Its active role in taking on policies from Florida’s state-backed insurer has helped it grow quickly where many competitors are cautious, suggesting a willingness to lean into complexity where it believes it has an edge. At the same time, concentration in catastrophe-prone markets like Florida leaves it heavily exposed to storms, regulation, and reinsurance costs. Diversification into reinsurance, claims management, and real estate helps, but the company’s fortunes are still closely tied to weather patterns and state insurance dynamics. Overall, HCI appears to have a differentiated offering in a tough market, with both meaningful strengths and elevated external risks.

Innovation and R&D

Innovation and R&D Innovation is a central part of HCI’s story. Exzeo, its in-house technology platform, supports the entire insurance workflow—from underwriting to claims—using advanced analytics and artificial intelligence. TypTap showcases this by delivering a streamlined, tech-first customer experience and aiming to write only the most attractive risks. The planned spin-off of Exzeo into an independent, publicly traded tech company is a major strategic step: it could allow the technology to be sold more broadly across the industry and highlight its value separately from the insurance balance sheet. However, it also introduces execution risk, as the company will need to manage the separation, align incentives, and prove Exzeo’s appeal to third-party insurers in a competitive insurtech landscape. In short, HCI is leaning heavily into a tech-enabled model, which could be a strong advantage if the strategy is executed well.

Summary

HCI has transitioned from a period of losses to a healthier phase marked by growing revenue, restored profitability, and stronger cash generation. Its balance sheet is more robust than a few years ago, with better capital support and manageable leverage, although the business remains inherently exposed to large, unpredictable catastrophe events. The company’s key differentiator is its proprietary technology and insurtech capabilities, which it uses to underwrite more selectively and grow in markets that many peers find challenging. The upcoming Exzeo spin-off, expanding TypTap footprint, and continued use of data-driven underwriting are important developments that could reshape the business mix and perceived value. At the same time, HCI’s exposure to Florida weather risk, regulatory shifts, and reinsurance market conditions means that results can still swing significantly from year to year, even with a strong strategy and modern technology in place.

NEWS

November 6, 2025 · 4:15 PM UTC

HCI Group Reports Third Quarter 2025 Results

Read more

October 27, 2025 · 8:30 AM UTC

HCI Group Sets Third Quarter 2025 Earnings Call for Thursday, November 6, 2025, at 4:45 p.m. ET

Read more

October 22, 2025 · 4:30 PM UTC

HCI Group Declares Quarterly Cash Dividend

Read more

October 16, 2025 · 9:15 AM UTC

Exzeo Group, Inc. Launches Initial Public Offering

Read more

September 25, 2025 · 9:15 AM UTC

HCI Group Announces Public Filing of Registration Statement for Proposed Initial Public Offering of Subsidiary, Exzeo Group, Inc.

Read more